Charles R. McCormick Lumber Company

rdf:langString Charles R. McCormick Lumber Company

rdf:langString Charles R. McCormick Lumber Company

rdf:langString St. Helens Lumber Company

rdf:langString Charles R. McCormick Lumber Company

rdf:langString St. Helens Lumber Company

rdf:langString Bankruptcy, sold to Pope & Talbot

rdf:langString in San Francisco, United States

rdf:langString Lumber, Shipbuilding, Shipping, Transportation

rdf:langString Charles R. McCormick

rdf:langString Pope & Talbot, Inc. starting in 1938.

rdf:langString * St. Helens shipyard * McCormick Steamship Company * Helens Mill Company * Puget Mill Company mill

rdf:langString Charles R. McCormick Lumber Company was founded in 1908 by Charles R. McCormick in San Francisco, California. McCormick purchased a mill site in St. Helens, and formed the Helens Mill Company. To feed the mill McCormick's St. Helens Timber Company also purchased 4,000 acres of timber. In 1912 McCormick formed the St. Helens Lumber Company as parent company over Helens Mill Company and the St. Helens Timber Company. In 1912 McCormick expanded the company with a second sawmill, a creosoting plant and shipyard, the St. Helens shipyard. McCormick also expanded into San Diego, California with a railroad ties factory, to supply Santa Fe Railway and the mines of Utah, Arizona, New Mexico, and northern Mexico. At the San Diego site, he built a dock to unload his timbers. With the Great Depression slow down, McCormick closed dock at San Diego in April 1931. In 1925 McCormick expanded again, buying the Puget Mill Company from Pope & Talbot, Inc. He had trouble raising the money to buy the company for cash, but the motivated sellers decided to finance the sale, taking mortgages on everything McCormick owned as security. The deal included almost nothing as a down payment, but stipulated that the money Mr. McCormick HAD been able to raise toward the purchase must be spent on upgrading the existing facilities. The sale closed on October 16, 1925. Mr. McCormick had no trouble spending money on the upgrades. In fact, it is said that he just told his people to "buy the best" and left them to their devices. Very quickly the budget was overspent, often on equipment that wasn't necessarily needed -- including top-tier logging equipment and a fleet of new locomotives. Puget Mill had previously purchased on option on the southern branch of the Port Townsend & Southern Railroad, including the line between Port Discovery and Quilcene, Washington. McCormick closed the sale, and use the line to feed timber from company lands in the Quilcene River and Snow Creek valleys to the mills at Port Gamble and Port Ludlow. (Logs were hauled a log dumps at Linger Longer Bay near Quilcene, dumped into the Hood Canal, and towed to the sawmills. This operation was managed out of Camp Talbot, located beside Crocker Lake, south of Port Discovery.He also built new sawmills, in 1926 one at Port Gamble, Washington and one at Port Ludlow. The Port Ludlow logging operations were based at Camp Walker, at the head of Ludlow Bay. McCormick purchased West Fork Logging Company, with timberlands and a logging railroad based at Camp Union, near Seabeck, Washington. McCormick also acquired a logging railroad and timberland near Castle Rock, Washington, which operated out of Camp Cowlitz. Because of his overspending on upgrades and other properties (as well as fluctuations in the lumber market) McCormick struggled to keep the operations afloat, particularly struggling to make his payments to the Pope and Talbot principals. The Pope & Talbot team intervened, taking partial control of the McCormick company. McCormick resorted to harvesting the timber on his land at unsustainable rates, trying to try to increase the company's cashflow enough to cover the annual payments to the Pope and Talbot principals. He soon ran low on timber, and when he wasn't able to do any more, in 1938 the Pope and Talbot families foreclosed on the mortgages, forcing McCormick into bankruptcy. The P&T families bought the rest of McCormick's assets from the bankruptcy sale, reorganized the company as Pope & Talbot, and quickly resumed operations. Over expanded and hit by the Depression, McCormick had to give the Puget Mill Company mill back, also his other companies, and properties to Pope & Talbot.

rdf:langString Bankruptcy, sold toPope & Talbot